Midland States Bank (MSB) is an Illinois-based $4.5 billion financial services company that is one of the state’s largest banks outside of Chicago. The bank uses Acuity’s STREAM to manage compliance with the COSO 2013 framework. Which provides guidance in the areas of risk and control, significantly enhancing corporate governance and enterprise risk management. Read our executive interview with James Stewart, Chief Risk Officer Midland States Bank to learn more.
Could you tell me about your requirements and what made you search
for an alternative to your current solution?
I looked for a cost-effective Enterprise Risk Management (ERM) solution which I could deploy quickly and easily to replace our spreadsheet-based tools. We aspired to list our shares on an exchange, so we had to focus first on our internal control framework. Excel is a powerful tool, but it can be proliferated, created, altered, and deleted easily. With multiple versions of the same document, it can easily get out of hand and become inefficient in a short space of time, which is why I decided to look for new ways of managing internal controls governance.
Drumz plc (LON:DRUM) is an investing company whose policy is to invest principally but not exclusively in the technology sector within Europe. On 4 September 2020 Drumz made an investment in Acuity Risk Management Ltd, which operates an award winning software business specialising in risk management.